Sounds like could be a total for all debt in the restructuring, if so that’s incredible!
Or possibly, if a target price is hit, would convert to commons plus interest.
‘Projects’ is the key here, possibly part of the negotiated terms, indicating there may be strong confidence in future growth. If this is the case then, imo, they would convert at a higher pps which would mean a potentially lower addition to the OS.
Either way sounds could be a win win! ;-)
$dsgt
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